*Provided by Mechanical Engineering
“The plight of the American factory town is often contrasted with that of China’s manufacturing hubs, where whole cities can be turned over to supplying parts for one industrial sector. How can the U.S. compete with that?
Quite well, actually.
In a January 2017 study, Honing U.S. Manufacturing’s Competitive Edge, Harold Sirkin, a managing director at Boston Consulting Group, found U.S. and Chinese costs virtually even. According to Sirkin, wages adjusted for productivity have risen in China while remaining flat in the U.S. Meanwhile, U.S. industrial electricity and natural gas dropped sharply. Other U.S. strengths include a stable dollar, efficient logistics, ease of doing business, and markets undistorted by corruption.”
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